By Devika Patel
Knoxville, Tenn., Oct. 24 - Monroe Minerals Inc. said it plans a C$2.5 million non-brokered private placement of units.
The company will sell up to 16,666,667 non flow-through units of one share and one non flow-through warrant at C$0.06 per unit and 20 million flow-through units of one flow-through common share and one flow-through warrant at C$0.075 per flow-through unit.
Each two-year non flow-through warrant will be exercisable for one common share at C$0.10 for one year and at C$0.12 thereafter. Each two-year flow-through warrant will be exercisable for one common share at C$0.12 for one year and at C$0.15 thereafter.
MineralFields Group said it will buy 13,333,332 flow-through units and 1,666,666 non flow-through units.
All of the securities have a four-month hold period.
Proceeds will be used to work toward the assembly of a portfolio of uranium properties, for exploration and development and for general working capital.
Based in Calgary, Alta., Monroe Minerals is a minerals exploration company focusing on diamonds and uranium.
| Issuer: | Monroe Minerals Inc.
|
| Issue: | Non flow-through units of one share and one warrant, flow-through units of one flow-through share and one flow-through warrant
|
| Total amount: | C$2.5 million (maximum)
|
| Agent: | Non-brokered
|
| Investor: | MineralFields Group (for 13,333,332 flow-through units and 1,666,666 non flow-through units)
|
| Pricing date: | Oct. 24
|
| Stock symbol: | TSX Venture: MMX
|
| Stock price: | C$0.07 at close Oct. 24
|
|
|
| Non flow-through units
|
| Amount: | C$1 million (maximum)
|
| Units: | 16,666,667 (maximum)
|
| Price: | C$0.06
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.10 the first year, C$0.12 the second year
|
|
|
| Flow-through units
|
| Amount: | C$1.5 million
|
| Units: | 20 million
|
| Price: | C$0.075
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.12 the first year, C$0.15 the second year
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
